Advertisement
|19 March, 2019

Iran sends 300,000 barrels of gas condensate for export from new phase of South Pars gas field -ISNA

Iranian President Hassan Rouhani formally inaugurated four new phases of South Pars on Sunday.

GENEVA- Iran has sent 300,000 barrels of gas condensate for export from a new phase of South Pars, the world's largest gas field, Payam Motamed, operator of the South Pars phase 13 project, said on Tuesday, according to the ISNA news agency.

Iranian President Hassan Rouhani formally inaugurated four new phases of South Pars on Sunday.

Iran has invested $11 billion to complete the four phases and they will increase the country’s gas production capacity by up to 110 million cubic meters per day, Iran's oil ministry said in a statement posted on Twitter on Sunday.

Advertisement

Iranian Oil Minister Bijan Zanganeh said on Saturday that Iran, which shares South Pars with Qatar, expected to operate 27 phases by next March.

Gas production at South Pars will exceed 750 million cubic meters per day by late 2019, Zanganeh said on Sunday, according to SHANA, the news website of the Iranian oil ministry.

Motamed said last week the first shipment of gas condensate from phase 13 was delivered on March 11 for export prior to its formal inauguration.

France’s Total and China National Petroleum Corp (CNPC) suspended investment in phase 11 of South Pars last year after the United States threatened to impose sanctions on companies that do business in Iran.

Zanganeh said on Saturday that talks are continuing with CNPC.

(Reporting by Babak Dehghanpisheh; Editing by Catherine Evans and Mark Potter) ((babak.dehghanpisheh@thomsonreuters.com;))

More From Markets